India Roundup: Roll-up ecommerce firm GlobalBees buys two new startups, and more

Update (November 3, 7:54 p.m. SGT): Added news on GlobalBees

Roll-up ecommerce firm GlobalBees buys two new startups

• GlobalBees has acquired two new brands: Yellow Chimes, a fashion jewelry brand, and Absorbia, a homecare brand.
• Yellow Chimes’ founders, along with its 29-member team will join GlobalBees as part of the deal. Absorbia’s seven-member team will also join the roll-up firm.
• Recently, GlobalBees entered the personal care space in India with the acquisition of Prolixr, an India-based skincare brand.

Edtech unicorn Unacademy buys Swiflearn

• While the financial details of the deal are undisclosed, the acquisition will allow Unacademy to strengthen its position in the K-12 category and optimize its product offerings in the space.
•  Swiflearn is an edtech platform that offers online tuition classes for English, math, and science, and other important areas of learning like life skills.
• In August, Unacademy closed a US$440 million funding round led by Temasek, lifting the edtech firm’s valuation to over US$3.4 billion.

US-based music firm to invest US$50 million in India

• Create Music Group, a music and media company based in the US, said it will invest US$50 million in India and the broader region in Asia over the next few years.
• The company entered India with the acquisition of Nirvana Digital, a local YouTube enterprise partner, for an undisclosed sum. Together, the two companies now exceed 25 billion streams per month.
• Established in 2015, Create Music Group is a data-driven media and tech company focused on empowering artists and creators. It handles the content and monetization strategies for artists and record labels including Jennifer Lopez, Deadmau5, and Tory Lanez.